Gold Falls as Stronger Dollar and Hawkish Fed Outlook Weigh on Prices

Gold prices are poised to end the week in the red, weighed down by a stronger US dollar and expectations of higher interest rates from the Federal Reserve.

The precious metal ticked up on Friday but remains down 2% for the week at $4,288.36 per ounce, according to Reuters data.

The dollar's strength makes greenback-priced metals more expensive for holders of other currencies, while US Treasury yields continued their upward trend.

Kelvin Wong, senior market analyst at OANDA, noted that markets are pricing in a 'much more hawkish Fed', which is negative for gold.